Airdrops : Scammers Favourite Scheme.
Have you being recently scammed by the growing airdrop announcements ? Jittery about trying it out ? Or are you a perpetual victim ? Read this !
Airdrops are genuinely are marketing tool use by crypto companies to raise market visibility and also in some cases raise funds through ICOs. In the hay days of airdrops, around 2016, one airdrop used to hold in a week.
Visit coinmarket.com the unofficial coin listing platform for cryptocurrency, daily airdrops announcements average 7. The crypto market presently is flooded with ICO tailored airdrops scams by purportedly new coins seeking to raise capital for their beautifully crafted projects and products.
The extent scammers go to stamp authenticity to their airdrops is exceptional. They succeds in convincing industry experts till when everyone involve realised that they have been scammed, usually when announced listing never happen and their once active social media presence becomes redundant.
I usually receive not less than ten airdrop links urging me to participate and benefit from too good to be true offers. Common denominator among these scamming airdrops is that they are usually newly created coins. To avoid falling victim again, any new airdrop not endorsed by a known crypto project’s verifiable media pages, stay clear.
Looking into the modus of operations of this scamming scheme, let’s use the latest airdop scheme on Twitter for analysis. A scammer claimed to be EUSD TOKEN announced airdrop and claim to be offshoot programe of global fund transfer company called Epay.
During the course of selling of EUSD at at a ridiculous low price, the supposed parent body Epay released a statement distancing self from the scheme. The scheme promised to launch on Pancakeswap on 30 of June and later shifted it closer to 28th claiming success in the ICO and also published a supposed white paper with link that leads to nowhere.
Pancakeswap has never acknowledged this token, that should be the first signal. By 28th June, EUSD closed it’s Telegram pages and become incomunicado on Twitter. In less than two weeks the company announced that it gained 60,000 transactions in. BNB Coins.
Tips To Guide You From Becoming a Perpetual Victim.
1. If it is too good to be true, then it is not true. Some promise investors of upto 2000% return on investment whenever the project is launched at the debut day.
2. Look out for a retweet endorsement from known crypto projects especially the ones the claim will list the token/coin. If there is no such endorsement, stay clear.
3. Do a thorough reserach on the project. Checkout all their social media pages, websites and team info. Most of them do not have Team Information. There is no known face the project can be linked to.
4. Finally, don’t ever give out your personal information or private keys.
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